FDCTech acquires Alchemy UAE (100%), Alchemy UK (100%), control of Alchemy Malta; pays 1.8M Series B shares

FDCTECH, INC.

Acquires 100% of Alchemy Markets DMCC (UAE), 100% of Alchemy Prime Ltd. (UK), and 49.9% of Alchemy Markets Ltd. (Malta), gaining full control of Malta entity.
Consideration: 1,800,000 shares of Series B Preferred stock to Alchemy shareholders and employees.
Alchemy UK and Malta acquisitions subject to FCA (UK) and MFSA (Malta) regulatory approvals.
Existing FDCTech management and board to remain; transaction began negotiations in September 2022.
Company plans to seek uplisting to Nasdaq or NYSE following the merger.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FDCTECH, INC. entered into a merger with Alchemy Group valued at 1,800,000 shares of its Series B Preferred stock (effective 2023-09-30).

Action: entry
Agreement: merger
Counterparty: Alchemy Group
Value: 1,800,000 shares of its Series B Preferred stock
Effective: 2023-09-30

Exact text from the filing

On September 30, 2023, FDCTech, Inc. (“FDC” or the “Company,” OTCQB: FDCT ) signed the definitive agreement with Alchemy Group where the Company acquired 100% of Alchemy Markets DMCC (Alchemy UAE), 100% of Alchemy Prime Ltd. (Alchemy UK), and 49.90% of Alchemy Markets Ltd. (Alchemy Malta). After the acquisition of 49.90% of Alchemy Malta, the Company will control 100.00% of all issued outstanding shares of Alchemy Malta. The acquisition of Alchemy UK and Alchemy Malta is subject to regulatory approval by the Financial Conduct Authority (FCA UK) and Malta Financial Services Authority (MFSA), respectively. The Company will issue 1,800,000 shares of its Series B Preferred stock, or such other number of shares that the parties agree upon to shareholder(s) and employees of Alchemy Group, for the acquisition.

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Source: SEC EDGAR

accession 0001493152-23-036402

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